Lansforsakringar Fondforvaltning AB publ Makes New $64.44 Million Investment in American Tower Co. (NYSE:AMT)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 351,353 shares of the real estate investment trust's stock, valued at approximately $64,442,000. American Tower makes up approximately 0.8% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 28th largest position. Lansforsakringar Fondforvaltning AB publ owned about 0.08% of American Tower as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Brighton Jones LLC increased its position in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after buying an additional 2,104 shares during the last quarter. Exchange Traded Concepts LLC increased its position in American Tower by 8.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 7,607 shares of the real estate investment trust's stock worth $1,395,000 after buying an additional 613 shares during the last quarter. Geneos Wealth Management Inc. increased its position in American Tower by 4.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,440 shares of the real estate investment trust's stock worth $814,000 after buying an additional 195 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in American Tower by 5.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the real estate investment trust's stock worth $278,000 after buying an additional 82 shares during the last quarter. Finally, Blue Trust Inc. increased its position in American Tower by 42.0% during the fourth quarter. Blue Trust Inc. now owns 7,349 shares of the real estate investment trust's stock worth $1,348,000 after buying an additional 2,172 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of AMT traded up $1.06 during trading hours on Friday, reaching $214.77. The stock had a trading volume of 5,861,516 shares, compared to its average volume of 2,505,441. American Tower Co. has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market capitalization of $100.54 billion, a PE ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.86. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company's 50-day moving average is $215.21 and its two-hundred day moving average is $202.30.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.79 earnings per share. Research analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 13th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.17%. American Tower's payout ratio is 174.81%.

Analysts Set New Price Targets

Several research firms have recently commented on AMT. BMO Capital Markets upped their target price on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Royal Bank of Canada upped their target price on American Tower from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Scotiabank upped their target price on American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Barclays upped their target price on American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Finally, Raymond James increased their price target on American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $240.25.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.